The postnup—defining marital terms after the fact

On behalf of Brandon Law Group posted in blog on Sunday, March 4, 2018.

You probably know about the prenuptial agreement, the basic purpose of which is to establish certain financial guidelines for your union before you meet at the altar.

A postnuptial agreement, also known as a postmarital agreement, accomplishes a similar purpose, but couples draw up this kind of legal document when they are already married or have entered into a civil union.

Because of the children

Like many other couples who want a postnuptial agreement, you may be marrying for the second or third time. You have children with a former partner and want to make sure that these kids are the beneficiaries of certain assets. On the other hand, you may have given up your job to remain at home and care for the children. A postnuptial agreement can ensure that you are protected financially, given your new position as a stay-at-home parent.

Because of the marriage

Some people draw up a postnuptial agreement as a way to stabilize the marriage and keep it going. You may have a spouse who is addicted to gambling or who has become overly fond of alcohol. These can be obstacles that are difficult to overcome and could lead to divorce. Putting together a postnup that contains terms favorable to your spouse shows how dedicated you are to working on the marriage and keeping it intact. In a lighter vein, you can address anything that threatens the peace of the marital state. If you are constantly at odds over who is responsible for taking out the trash, mowing the lawn or walking Fido before bedtime, you can use the postnuptial agreement to assign duties—and remember, it is a legal document.

Because of the assets

Like a prenup, a postnup is often used for specifying how assets should be divided. A family law attorney will tell you that even if you have been married for decades, developing such an agreement will save considerable time and heartache if you and your spouse should ever decide to call it a day. Circumstances in life change. Sometimes they lead to divorce; sometimes they signal that help is needed to hold a marriage together. A postnuptial agreement may be a helpful tool to have for these and other reasons.

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